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Axiata, Norway's Telenor in advanced talks to merge Malaysian mobile operations

If successful, merged entity - Celcom Digi - will have 19 million mobile subscribers against rival Maxis's 9.7 million; pro forma revenue estimated at US$3 billion

Published Fri, Apr 9, 2021 · 05:50 AM

Singapore

MALAYSIAN telecommunications conglomerate Axiata Group and its Norwegian counterpart Telenor Group on Thursday announced that they are in "advanced discussions" regarding a potential merger of their Malaysian mobile operations Digi and Celcom.

The merged entity, named Celcom Digi, will see Axiata and Telenor hold an equal ownership of 33.1 per cent each. Celcom Digi will continue to be listed on Bursa Malaysia, and will be among the top stocks in terms of market capitalisation, said the joint statement.

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